Cronos Group Inc (CRON)

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MJN NEWS
Paul Rosen and Lorne Gertner's shell graduate, PharmaCan Capital Corp. (MJN), up 11 cents to 31 cents on 22,000 shares, must consider increasing its position in the Peace Naturals Project Inc., an MMPR-licensed medical marijuana producer managed by Mark Gobuty. The largest shareholder of Peace Naturals, the Barnes Family Trust, wants to sell its 48.4 per cent interest to an unnamed buyer, but PharmaCan, which currently owns 25 per cent of Peace Naturals, has a right of first refusal to purchase the shares held by the Barnes Family Trust. The trust is controlled by Mr. Gobuty's wife, Ann Barnes. PharmaCan has until Oct. 15 to decide whether to exercise its right. In the meantime, the company is lining up investors for a private placement of up to 7,014,544 units at 28.5 cents for $2-million. Each unit comprises one share and one warrant, exercisable at 31 cents for five years. The company already closed a first tranche of $1.5-million yesterday, and it expects to close the second and final tranche by the end of next week. Mr. Rosen and Mr. Gertner are also in the process of listing a new capital pool shell, RG One Corp. Last August, RG One filed a prospectus for the sale of between 3.6 million and 10 million shares at 10 cents. M Partners is handling the IPO.

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